News Details

LUXEMBOURG--(BUSINESS WIRE)--
Pacific Drilling S.A. (NYSE: PACD) (NOTC: PDSA) announced today that one
of its subsidiaries has reached an agreement with Samsung Heavy
Industries to extend until February 17, 2012 an option to construct a
seventh ultra-deepwater drillship. Under the revised terms of the option
agreement, the delivery of the drillship will be no later than May 17,
2014. The commercial terms of the option agreement are unchanged.

About Pacific Drilling

With its best-in-class drillships and highly experienced team, Pacific
Drilling is a fast growing company that is committed to becoming the
industry’s preferred ultra-deepwater drilling contractor. Pacific
Drilling’s fleet of six ultra-deepwater drillships will represent one of
the youngest and most technologically advanced fleets in the world. The
company currently operates four recently delivered drillships and has
two additional drillships on order at Samsung. For more information
about Pacific Drilling, including our current Fleet Status, please visit
our website at www.pacificdrilling.com.

Statements regarding the estimated duration of option extensions and
other statements that are not historical facts in this press release are
forward-looking statements and are subject to certain risks,
uncertainties and assumptions and consequently actual results may differ
materially from those indicated or implied by such forward-looking
statements. Forward-looking statements speak only as of the date they
are made, and we undertake no obligation to publicly update or revise
any of them in light of new information, future events or otherwise.